Traders Buy Wal-Mart Stores, Inc. (WMT) on Weakness
Traders purchased shares of Wal-Mart Stores, Inc. (NYSE:WMT) on weakness during trading on Tuesday. $290.28 million flowed into the stock on the tick-up and $215.72 million flowed out of the stock on the tick-down, for a money net flow of $74.56 million into the stock. Of all stocks tracked, Wal-Mart Stores had the highest net in-flow for the day. Wal-Mart Stores traded down ($0.96) for the day and closed at $96.52
WMT has been the topic of a number of research reports. Jefferies Group LLC set a $88.00 price target on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Friday, August 11th. Cowen and Company set a $86.00 price target on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Monday, August 7th. BidaskClub upgraded Wal-Mart Stores from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. BMO Capital Markets restated a “market weight” rating on shares of Wal-Mart Stores in a research note on Thursday, September 14th. Finally, Goldman Sachs Group, Inc. (The) set a $84.00 target price on Wal-Mart Stores and gave the company a “buy” rating in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $92.38.
The firm has a market capitalization of $288,324.75, a PE ratio of 22.04, a P/E/G ratio of 3.56 and a beta of 0.34. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.19 and a current ratio of 0.81.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. The business had revenue of $122.14 billion during the quarter, compared to the consensus estimate of $120.23 billion. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. sell-side analysts predict that Wal-Mart Stores, Inc. will post 4.43 EPS for the current year.
Wal-Mart Stores announced that its Board of Directors has approved a share buyback plan on Tuesday, October 10th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the retailer to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, SVP David Chojnowski sold 684 shares of Wal-Mart Stores stock in a transaction on Friday, November 17th. The stock was sold at an average price of $99.29, for a total value of $67,914.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Alice L. Walton sold 1,002,210 shares of Wal-Mart Stores stock in a transaction on Monday, November 20th. The shares were sold at an average price of $96.23, for a total value of $96,442,668.30. Following the completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $649,415,853.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,856,436 shares of company stock valued at $1,008,696,039. Company insiders own 51.39% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Hudock Capital Group LLC grew its position in Wal-Mart Stores by 0.4% during the second quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock valued at $139,000 after acquiring an additional 7 shares during the period. Gemmer Asset Management LLC grew its position in Wal-Mart Stores by 0.3% during the second quarter. Gemmer Asset Management LLC now owns 2,965 shares of the retailer’s stock valued at $224,000 after acquiring an additional 10 shares during the period. Sterneck Capital Management LLC grew its position in Wal-Mart Stores by 0.3% during the first quarter. Sterneck Capital Management LLC now owns 6,588 shares of the retailer’s stock valued at $475,000 after acquiring an additional 22 shares during the period. LLBH Private Wealth Management LLC grew its position in Wal-Mart Stores by 0.3% during the second quarter. LLBH Private Wealth Management LLC now owns 7,843 shares of the retailer’s stock valued at $594,000 after acquiring an additional 24 shares during the period. Finally, Edgemoor Investment Advisors Inc. grew its position in Wal-Mart Stores by 0.3% during the second quarter. Edgemoor Investment Advisors Inc. now owns 7,654 shares of the retailer’s stock valued at $579,000 after acquiring an additional 24 shares during the period. 30.22% of the stock is owned by hedge funds and other institutional investors.
About Wal-Mart Stores
Wal-Mart Stores, Inc is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes its mass merchant concept in the United States operating under the Walmart or Wal-Mart brands, as well as digital retail.
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